Problem on purchase returns and inventory purchases, Cost Accounting

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Problem on purchase returns and inventory purchases

Response to the following :

Purchase Returns

The company returned 15 of the tables purchased in problem because of defects in assembly. Make the journal entry necessary to record this return under (1) a perpetual inventory system and (2) a periodic inventory system.

Problem:

Inventory Purchases

The company purchased (on account) 180 tables to be resold to customers. The cost of each table was $200. Make the journal entry to record this transaction under (1) a perpetual inventory system and (2) a periodic inventory system.

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